It looks like 2014 could turn out to be an exciting year for new tech IPOs on the London markets. London-based business intelligence start-up Rosslyn Analytics has just raised a further £2.1m in funding led by new investors Amati Global Investors in participation with existing investors IQ Capital. IQ invested £1m in Rosslyn back in January 2010 along with angel investors.
Founding CEO, Charles Clark, is hoping to float the company in London in early 2014 with a target valuation previously mooted at £75-100m, 10x the revenue run rate projected at the time. Earlier this year media reports indicated that Rosslyn had a revenue run rate of £5m and was expecting to break even in 2013; revenues in FY12 (to April) were £2.2m with pre-tax losses of £430k.
We are very keen to see ‘Little British Battler’-style companies make it to the public markets – especially in London. But they need to be battle-ready to operate in the intense glare of the public eye, and they need to have sensible valuations that reflect their realistic potential if they are not to disappoint.